You are a struggling entrepreneur and sometimes it
feels like you are pushing a 3 ton boulder up a steep hill. Costs keep mounting
and you are considering giving up. Well before you do, check out these 10
setbacks that Walt Disney had, some were financial nightmares that put him
millions of dollars in the red:

1) Walt formed his
first animation company in Kansas City in 1921. He made a deal with a
distribution company inNew York,
in which he would ship them his cartoons and get paid six months down the road.
Flushed with success, he began to experiment with new storytelling techniques,
his costs went up and then the distributor went bankrupt. He was forced to
dissolve his company and at one point could not pay his rent and was surviving
by eating dog food.

2) Walt created a
mildly successful cartoon character in 1926 called Oswald the Rabbit. When he
tried to negotiate with his distributor, Universal Studios, for better rates for
each cartoon, he was informed that Universal had obtained ownership of the
Oswald character and they had hired Disney's artists out from under him.

3) When Walt tried to
get MGM studios to distribute Mickey Mouse in 1927 he was told that the idea
would never work-- a giant mouse on the screen would terrify women.

4) The Three Little
Pigs was rejected by distributors in 1933 because it only had four characters,
it was felt at that time that cartoons should have as many figures on the screen
as possible. It later became very successful and played at one theater so long
that the poster outside featured the pigs with long white beards.

5) Snow White and the
Seven Dwarfs was sneak previewed to College Students in 1937 who left halfway
during the film causing Disney great despair. It turned out the students had to
leave early because of dorm curfew.

6) Pinocchio in 1940
became extra expensive because Walt shut down the production to make the puppet
more sympathetic than the lying juvenile delinquent as presented in the original
Carlo Collodi story. He also resurrected a minor character, an unnamed cricket
who tried to tell Pinocchio the difference between right and wrong until the
puppet killed him with the mallet. Excited by the development of Jiminy Cricket
plus the revamped, misguided rather than rotten Pinocchio, Walt poured extra
money into the film's special effects and it ended up losing a million dollars
in it's first release.

7) For the premiere
of Pinocchio Walt hired 11 midgets, dressed them up like the little puppet and
put them on top of RadioCityMusic
Hall in New York
with a full day's supply of food and wine. The idea was they would wave hello to
the little children entering into the theater. By the middle of the hot
afternoon, there were 11 drunken naked midgets running around the top of the
marquee, screaming obscenities at the crowd below. The most embarrassed people
were the police who had to climb up ladders and take the little fellows off in
pillowcases.

8) Walt never lived
to see Fantasia become a success. 1940 audiences were put off by it's lack of a
story. Also the final scene, The Night On Bald Mountain sequence with the devil
damning the souls of the dead, was considered unfit for children.

9) In 1942, Walt was
in attendance for the premiere of Bambi. In the dramatic scene where Bambi's
mother died, Bambi was shown wandering through the meadow shouting,"
Mother! Where are you, Mother?" A teenage girl seated in the balcony
shouted out, " Here I am Bambi!" The audience broke into laughter
except for the red-faced Walt who concluded correctly that war-time was not the
best time to release a film about the love-life of a deer.

10) The sentimental
Pollyanna in 1960 made Walt cry at the studio screening but failed at the box
office. Walt concluded that the title was off-putting for young boys.

Walt was human, he
suffered through many fits of anger and depression through his many trials. Yet
he learned from each setback, and continued to take even bigger risks which
combined with the wisdom that experiencing failure can provide, led to fabulous
financial rewards.

Want to hear more
stories? Stephen Schochet is the author and narrator of the audiobooks
"Fascinating Walt Disney" and "Tales Of Hollywood". The
Saint Louis Post Dispatch says," these two elaborate productions are
exceptionally entertaining." Hear MP3 samples:http://www.hollywoodstories.com.